Palantir narrowly beats Q3 consensus as US commercial segment supplants government revenue

Q3 EPS beats Wall Street consensus by $0.03 per share.
Palantir reports US commercial revenue of $984 million in Q3.
Q3 revenue rose 96% YoY, while US commercial revenue topped 148% YoY.

Clay Webster FXStreet

Palantir Technologies (PLTR) stock initially surged afterhours on Monday after the AI firm overcame Wall Street's average forecast by a slim margin for the third quarter. The stock partially recovered the 3.1% drop seen in the regular session on Monday.

Palantir posted adjusted earnings per share (EPS) of $0.44 on revenue of $2.31 billion. Those figures beat the Wall Street consensus by $0.03 per share and $130 million, which might have been to close for comfort for some shareholders.

Withstanding the expectations, however, the results were impressive. Revenue rose 96% YoY with US commercial revenue surpassing US government revenue for the first time ever.

US commercial revenue jumped 148% YoY to $984 million, while US government revenue grew 96% YoY to $953 million.

Palantir quarterly US commercial revenue in millions ($)

The company has been on a tear in the third quarter, closing "212 deals of at least $1 million, 107 deals of at least $5 million, and 64 deals of at least $10 million."

For the fourth quarter, Palantir expects to post revenue of $2.65 billion, above the prior consensus of $2.46 billion. Of that figure, the guided for adjusted income from operations at or above $1.64 billion.

PLTR 5-minute chart — PLTR 5-minute stock chart

Author

Clay Webster

FXStreet

Clay Webster grew up in the US outside Buffalo, New York and Lancaster, Pennsylvania. He began investing after college following the 2008 financial crisis.

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